UPDATE: Deutsche Bank Raises PT on TripAdvisor on Increased Investor Confidence

In a report published Monday, Deutsche Bank analyst Greg Poole reiterated a Buy rating on TripAdvisor TRIP, and raised the price target from $60.00 to $68.00. In the report, Poole noted, “We maintain our Buy rating on TripAdvisor shares and continue to see the stock moving higher as investor confidence in 2014 increases around the meta-search transition and the impact of TV advertising. While some of the positive trends are priced in at current levels, our above-consensus 2014 estimates embed limited upside from TV or meta-search. We expect to see increasingly positive data points around meta-search usage and pricing. In addition, we expect positive color on the soon-to-launch TV ad tests. We see estimates moving higher as these events unfold and remain bullish on the shares.” TripAdvisor closed on Friday at $59.88.